Ethereum just made a huge parabolic move and tapped into a key daily resistance zone around $3,676. Price is now reacting with a bearish candle on the 4H, suggesting a likely pullback.
🧠 Trade Idea: Short ETH/USD
Entry: $3,495 (current level)
Stop Loss: $3,676 (above resistance)
Take Profit: $3,130 / $3,082 (support targets marked on chart)
📌 Commentary:
ETH has been in a strong uptrend, but such parabolic rallies often retrace sharply once momentum fades. Given the strong rejection at daily resistance and the bearish 4H setup, I’m expecting a short-term retracement to the marked support levels.
📊 Watching price action closely near those zones for potential bounce setups.
🚨 Not financial advice. Always use proper risk management.
🧠 Trade Idea: Short ETH/USD
Entry: $3,495 (current level)
Stop Loss: $3,676 (above resistance)
Take Profit: $3,130 / $3,082 (support targets marked on chart)
📌 Commentary:
ETH has been in a strong uptrend, but such parabolic rallies often retrace sharply once momentum fades. Given the strong rejection at daily resistance and the bearish 4H setup, I’m expecting a short-term retracement to the marked support levels.
📊 Watching price action closely near those zones for potential bounce setups.
🚨 Not financial advice. Always use proper risk management.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.